Guaranteed Student Loans Without Cosigner
Many people wonder what the “guaranteed student loans without cosigner” options really mean. We would like to help explain what it means and what type of guaranteed student loans are available for college students that need money to pay for college. Some of the things we’ll examine include the federal loans, the parent PLUS loan, as well as federal grants.
Depending on what type of guaranteed student loans without a cosigner options you have already tried will depend on whether these three options will be helpful to you or not. One of the first things you need to do when applying for loans is fill out the FAFSA. This is the federal aid application and is necessary when applying for any type of student loan’s. All students that attend college are guaranteed federal loan money up to a certain amount. These amounts generally can cover in state public college tuition fees. For those that are attending private institutions the money that is available here most likely will not be enough to cover tuition costs. The two programs that exist here are the Perkins program as well as the Stafford loan program. After filling out the FAFSA you can then speak with the financial aid department at the school you are planning to attend and they can help determine what type of loans to qualify for and how much aid you’re able to receive.
If the federal loans are not enough to cover your tuition costs as well as your other costs associated with attending college then there is the parent PLUS loan that exists. Typically this requires a parent to that application that you will submit to your financial aid department at the school you are going to. Often times if this application is denied the school can then use its discretion to still provide the necessary funds to the student. So in a way this money can be guaranteed depending on if your school feels the need is great enough to loan me the money.
The third option is based mostly on income. This includes both your parents income as well as your income as a student. If these amounts are low enough that it is possible to qualify for federal grants. These are little bit different than federal student loans because they do not have to be paid back. They get mentioned in the guaranteed student loans category because they’re guaranteed money if income is low enough and the need is great enough. To determine whether or not student qualifies for federal grants the FAFSA provides a number to the school you will be attending that will help them to determine if they qualify for any type of grant money.
The national have a good idea about what types of guaranteed student loans without cosigner options are available to students that need funds. Students that graduate college on average earn up to $1 million more over their lifetime, so getting a college education is very important.